In October of 2011 compared with October of 2010, the value of exported goods increased $195 million (5.3 percent) to $3.9 billion. Imported goods rose $257 million (6.6 percent) to $4.2 billion.

Increase in exports led by meat and edible offal, and crude oil. Increase in imports driven by intermediate goods like fertilisers, crude oil, processed fuels and lubricants.

Compared with October last year, imports were up 6.6 per cent, or $257m, led by fertilisers and petrol.
The trade shortfall of $282m for October was equal to 7.3 per cent of exports.

There is usually a trade deficit in October, with an average deficit of 23 per cent of exports for the five previous Octobers.For the year ended October 2011, the trade balance was a surplus of $627m.
The trend for exports remains at record levels, 28 per cent higher than the most recent low point in October 2009.

The trend for imports is up 25 per cent since its most recent low point in September 2009, but is still 6.3 per cent below its peak in September 2008.

Seasonally adjusted exports increased 5.3 per cent ($209m) in October 2011 compared with September 2011. Seasonally adjusted imports decreased 2.1 per cent ($83m) over the same period.